Lakshmikumaran & Sridharan (LKS) Delhi-based partners Abir Roy and T Sundar Ramanathan have left the firm to start-up an independent firm in collaboration with former LKS senior partner S Seetharaman, who left the firm in October.

Roy was part of the firm’s competition practice and also focused on the Insolvency Code, while Ramanathan focussed on general and commercial litigation.

They will be starting their own firm by mid-January as well as collaborating with Seetharaman's independent practice, who focuses on international trade and competition, said Roy.

Roy had joined LKS in January 2015 from his partnership at Khare Legal Chambers, and Ramanathan had joined the firm in 2009. Both had their last working days at LKS yesterday, confirmed Roy.

Both are NLU Jodhpur 2007 alumni and made partner in LKS' annual promotion round this year.

Roy commented: “[Starting up] has been in mine and Sundar's mind, we wanted to do something of our own that was a long drawn ambition. Now we finally decided: if not now, when?”

“[The Insolvency Code] from a company perspective is a huge boon, a lot of creditors are happy, also from the lawyer's perspective there are so many cases going around in a year's time, there is huge scope,” he added.

LKS founding partner V Lakshmikumaran commented: “We wish them best of luck. They have done a good job. They're both good boys and we should allow people to grow. We should encourage them.”

He said that LKS Delhi-based international trade practice partner Dhruv Gupta, who was made up to partner in the same round as Roy and Ramanathan, would take charge of the competition practice post the exit of Roy and Ramanathan, alongside Lakshmikumaran himself.

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You seem to be mistaken. There is no 'heir apparent' except the Prince. Rest all are second fiddles in the Prince's armory.

As far as retaining talent in concerned, the King himself publicly proclaimed long back that he is a like a jeweler who keeps creating many diamonds regularly such that it does not matter to him as to who leaves and who joins his firm.

Freedom is the key. Young lawyers need new avenues, free from the shackles of law firm pressures. Abir is excellent, and no doubt will be the go to guy for competition in a few years time. Very best to him! :)

"Your days are numbered Mad King!!" With those words, the Tribunal Partner, the last of the lot rose in rebellion. BLN's rebellion, or so it was called, brought the beginning of the end for the once proud kingdom set up by the brothers two! The Warden of the North and West have left already. The young Lords are leaving slowly. With the Warden of the South slowly planning to leave the Kingdom, the Mad King has finally lost it all. The Warden of the East is marred by allegations. Now the time is ripe! Because there is hope! Rebellions are built on hope! With those words, the Wardens finally drove their swords deep in the Mad King's heart!Valar Morghulis Mad King! All Men Must Die!!

Young men and women let us rise to this oppurtunity. This is the age of youth. The firm (L&S) has power of YOUTH. We must explore each other....and sacrfice ourselves for the greater goal of the FIRM. Let us exploit ourselve and enjoy fruits of labour. This is the time to shine and not critisize folks!!

I remember folks! Consulting wing of L&S is top class! The attorneys and CAs explore each other and support each other’s assets! This is the spirit in which the firm works! There were partners who came as street kids and now have become obediant !! Thats the spirit. VISION 2020. We have nurtured and explored them folks!

Its all because of factor system. Sallaries of attorneys cannot be deducted for not meeting 3.5x of sallary target. Thats unfair thing to do. And ofcourse the commission system for getting new clients was closed. There was no incentive. Young Partners from Tax/GST Consulting Division were getting clients everyday but they were denied their share. Is that correct? The firm is also suffering because of the shame that has been collected because of the misdoings of senior tribunal litigation partners and their conduct both in Court and in Chambers. young talent r leaving or forced to leave if you dont pay respects to the mighty Delhi Tribunal Partner. A regime of Chamchaas have been created.

Dear ‘real picture’ you are right. But this firm has been built on the hard work of its founding members. If the 3.5x factor is nt adjusted...how will the equity of the Principal’s be paid? How will future offices in Dubai and Singapore will be purchased? Entry level associate’s sallaries were deducted. Unki kya galti thi... partners didnt have enough money to buy Rajnigandha!

where did rajnigandha come from? i think making personal comments on any person is unwarranted and not called for. if a person is a partner in a prestigious firm, let us give him the credit that he earns, which is a lot more than all of us commenting here and deserves some respect. Lets stick to the constructive criticism. :)

Right to eat Rajnigandha is a fundamental right. But the fundamental duty is not to spit Rajnigandha in office dustbin and make the office aromatic. Folks! Understand this please. bandikoots will eat rajnigandha from dustbins and become addicts. In office there is just one addiction, that is ‘knowledge addiction’!

All this pushes the core topic aside which has the ability to steer the consulting ship of the firm. All I can say that if this is the reason for growth of consulting practice of the firm then all firm should make this part of their offerings to their Partners.

A limited set of people have a flair for developing a practice which these young partners have. young breed at lks is brilliant in getting assignments not only for their practice but for other verticals also. This really calls for incentivising these skilled and let us give them their dues.

You are way off the mark. What you call as the reason for 'incentivising' is the exact reason why they are not acceptable in LKS. VLK does not want anyone who knows the skills of business development. Remember one who can bring clients can also take them away. So these people are the cause for fear.

Instead VLK wants only the also-rans in the firm such that the entrepreneurship is confined to 'the family' and rest all are pawns who just execute errands to the satisfaction of 'the family'.

The insistence on 'knowledge', 'quality', etc. is all drama as hungry mouths cannot be fed with these. Those who have the skills or work hard to make a living expect to take back the reward for their efforts. However, as someone pointed out above, the greed of 'the family' is reflected in getting to open a new office (somewhere across the globe) every two years. This ensures that the old office (which was in any case owned by VLK and not by the firm) get back in their hands after it has been paid for by the blood of the pawns.

So a short piece of advice. If you have the talent, explore it elsewhere. It will not be appreciated in this place. Nothing will change here. People with more than decades of their life spent here will confirm the above.

This firm also needs to understand that lawyers cannot be replaced by CAs. Both professionals have different expertise. For some reason they feel that lawyers are costly and too ambitious whereas CAs just get used to all the circumstances (read salary). No wonder C3PO is again looking for only CAs for International Trade team, which used to be a forte of very sharp lawyers.